ISTANBUL
Turkish Economy Minister Zafer Caglayan stated that in the next 10 years Turkey would invest $250 billion in the fields of energy and transportation.
He said, "These will take place with the partnership of public and private sector or with the public budget resources. So I think that French businessmen need to take a look at Turkey from that point of view."
Meeting the French Foreign Trade Minister Nicole Bricq and French CEOs at a breakfast meeting in Istanbul, Caglayan said they formed work groups in the fields of energy, agriculture, environment and urban development in the framework of second term meeting of France-Turkey Joint Economic and Trade Committee (JETCO).
Caglayan reminded that the total population of two countries were 140 million and have about $1.7 trillion of foreign trade volume.
He said that in 2011, the foreign trade volume between Turkey and France was $16 billion and said that because of a decrease on demand, the trade volume at the end of 2012 would be $15.5 billion.
Caglayan also said two countries which have $1.7 trillion foreign trade volume can reach a bilateral trade volume of $36, $56 or $66 billion rather than $15 or $16 billion of foreign trade volume as of today.
He continued as saying, "Nearly 35 Turkish companies invested $1 billion in France. So far, total investments of Turkish firms all around the world was $20 billion. More, 54 French firms invested $6.2 billion in Turkey. Especially, in the automotive industry we have important trade relations between us."
Coming to Turkey's 2023 targets, Minister Caglayan said that Turkey has to revise its production structure and working strategy to achieve 2023 aims.
He said that when Turkey places these it has to strengthen its hard infrastructure, so in the scope of that, in the next 10 years, there will be more than $110 billion worth of investments primarily in railways and high speed railway transport.
Caglayan informed that today's electricity power capacity was 57 thousand megawatt and noted by 2023 they aim to double the energy capacity to reach 110 thousand megawatt.
Caglayan said this shows, more than $130 billion of investment would take place in the field of energy.
French foreign trade minister calls for more mutual investments
French Foreign Trade Minister Nicole Bricq on Wednesday urged Turkish and French businesspeople to make more investments in each others' countries.
"We have 400 French companies in Turkey but this is not what it should be. We want Turkish companies to make investments in Turkey too," Bricq told reporters during a meeting with French CEOs in Istanbul alongside Turkish Economy Minister Zafer Caglayan.
Bricq said France was also ready for cooperation in nuclear energy in the development of new technologies.
The French minister also said Europe was an attractive market with 500 million consumers, adding, "Turkey should get its place there. Please read this economic message as a political one as well."
